The Cabinet of Ministers has introduced new fines on the participants of stock markets for violating advertising regulations on the stock market.
The government adopted the relevant resolution, No. 980, on
September 16, 2009, under which the relevant amendments are introduced
to the Procedure of taking fines for violations of the legislation on
advertising, as adopted under government resolution No. 693 of May 26,
2004.
The fines will be imposed on advertisers who violate the legislation
on advertising securities and use in their advertisements information
about revenues from securities or about the size of revenues received
by offices of issue in the previous period without noting that such
past revenues are not a guarantee of future revenues.
According to the procedure, such advertisers will be fined a sum five times the cost of the advertisement.
